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What is Medicare

Medicare is a government health care assistance program in the United States. This program is for anyone who is aged 65 or older, and some people who are younger than that who have certain other disabilities like Lou Gehrig's disease. It is also for anyone who has end-stage kidney failure who is on constant dialysis or requires a kidney transplant. You can often use certain parts of Medicare in conjunction with an employer or union health plan, with veteran services and other types of health plans. Medicare is something great that helps Americans afford healthcare because is can be quite expensive without any sort of coverage.

There are four major parts to Medicare. Part A covers anything that happens at the hospital. This usually includes emergency services, inpatient stays and hospice care. Part B is for your regular everyday medical visits like doctor’s office visits and everyday medical supplies. Part C is private insurance plans that you can get through Medicare. Part D is for your prescription drugs. Medicare does have a lot of moving parts so it’s easy to get confused about it, but if you keep reading here and keep up with all the new information we post here when developments happen, it should become demystified!

Sources of Financing for Medicare

Throughout your working career you actually pay money into Medicare so that by the time you need it, you can receive benefits. It comes from the hospital insurance trust fund, that gets funded by your regular payroll tax that anyone who has a job or is self employed pays into for their whole life. The other thing that goes into this fund is taxes paid on social security benefits, interest from trust funds and Medicare Part A premiums. The other fund is Supplementary Medical Insurance Trust Fund and that is one where congress authorizes funds to go into it. It also receives funding from the premiums of Medicare Part B & D.

Who is Medicare For

Medicare is a necessary program for the United States. It helps people who might otherwise have a hard time paying for healthcare, but it’s not necessarily the same as Medicaid, the health care program for low-income Americans. Here is a description of all the people who may be eligible for Medicare.

  • People Over Age 65 When you are over the age of 65 you might be retired or winding down your career, so you might need a bit of help paying for healthcare.
  • Other People (of Any Age) With Disabilities Medicare is also for anyone of any age who is suffering from a disability and has been receiving Social Security Disability Income for more than 2 years.
  • Patients in End-Stage Renal Those who need constant dialysis or are on the transplant list for kidney failure may be eligible for Medicare as well, but it depends on a few factors.

Benefits of the Medicare Insurance Program

Medicare typically covers everything that your usual health insurance program would cover. The main difference is that it is provided by the government in order to help people who wouldn’t otherwise be able to pay for health coverage afford it. When you are older or disabled, it’s a challenge because you have higher health costs and lower income, so something like Medicare is really needed for this group of people. The benefits might sound a little confusing when you look at all of them, but in reality it’s very straightforward and easy to figure it out, especially if you keep reading right here.

  • Inpatient Medical Care

    Medicare covers some of your medical expenses when you need to stay in the hospital.

  • Skilled Nursing Care

    If you need to stay in a nursing home for a recovery period, Medicare may be able to help.

  • Hospice Care

    End of life is a stressful and emotional time for families. With hospice care coverage, your family will worry less.

  • Doctor Visits

    Medicare can help to cover your regular doctor’s expenses like routine visits and medical lab tests.

  • Medical Supplies

    Diabetics and certain others with chronic illness need medical supplies. Medicare helps to pay for that.

  • Prescription Drugs

    Medicare Part D is a whole section of Medicare that is dedicated to helping with payment for prescriptions.

  • Screenings

    Any type of screening including an x-ray or a diabetes test is also covered under Medicare.

In Conclusion

Medicare is a very important program for Americans. As we age, we want to take a load off and that means we might make less money than other people. If we have not been saving for retirement, we may find ourselves in a big jam. Luckily there is Medicare and Medicaid that can help everyone pay for their healthcare when they need a bit of a leg up to afford it. It covers pretty much everything that you would need to have covered as part of a health insurance program, and anyone over age 65, plus some other disabled people are eligible.

Get Medicare Coverage now! provides Medicare Advantage, Medicare Supplement and Medicare Prescription Drug plans. You may qualify even if you are under 65